^NOT FOR DISTRIBUTION TO UNITED STATES NEWS AGENCIES OR TO
DISTRIBUTION IN THE UNITED STATES
SARNIA, Ontario, March 30, 2023 (GLOBE NEWSWIRE) — Aduro Clean Technologies Inc
(https://www.adurocleantech.com/?utm_source=ACT&utm_campaign=PR80&utm_medium=Pre
ssRelease). (“Aduro” or the “Company”) (CSE: ACT) (OTCQB: ACTHF)
(FSE: 9D50), a Canadian developer of patented water-based
Technologies for chemical recycling of plastics and conversion
from heavy crude and renewable oils into commodities and higher grades
Fuels is pleased to announce that it is following its
Press release dated March 8, 2023 the scope of its non-brokered
Private placement of shares (the “Shares”) at a price of $0.93 per
Share for gross proceeds of at least $1,999,965 and up to one
Maximum Amount of $4,000,000 (the “LIFE Offer”).
Each share consists of one (1) common share in the Company’s capital
(each a “common share”) and one-half (1/2) of an acquisition warrant
of one common share (each complete warrant a “warrant”). Each
Warrant may be exchanged for one (1) common share for a period of two (2) years
converted (each a “stock warrant”), at a price
of $1.30 per stock warrant. Provided that the
Common Stock on the Canadian Securities Exchange (the “CSE”) (or any other
Stock exchange on which the common stock is traded at that time
may) during a period of ten (10) consecutive Dealing Days
a closing price at any time after the issuance of the Warrants
of $1.60 or higher per common share, the Company may do so
expiration date of the Warrants by notice to the holders of the
Advance warrants (by distributing a press release stating
the advancement of the expiry date of the warrants is announced). In
In this event, the Warrants will expire on the thirtieth (30th) day after the Date
this notice.
The amended offer document (the “Amended Offer Document”) for the LIFE
Offer can be viewed under the Company’s profile at www.sedar.com
(https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00045602) and on
the company’s website at www.adurocleantech.com.
(https://www.adurocleantech.com/?utm_source=ACT&utm_campaign=PR80&utm_medium=Pre
ssRelease) can be viewed. Potential investors should consider the amended
Read the offer document before making an investment decision.
As set out in the amended offer document, the Company intends to
the net proceeds from the LIFE issue to fund research; and
Development of the company’s chemical recycling technologies and for
use general administrative and working capital expenses.
Shares being offered under the LIFE offering will be available to resident buyers
in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, Quebec, Nova
Scotia and Newfoundland and Labrador under the Funding Exemption for
listed issuers in accordance with Part 5A of NI 45-106 (the?Listed
Issuer Financing Exemption”). Shares eligible under the Financing Exemption
offered to listed issuers are subject to the applicable
Canadian securities laws do not comply with the restrictions on resale
Canadian Resident Investors.
The LIFE emission is now expected to take place on or about April 3, 2023 or
at a later date that the Company may determine
be. Closing is subject to certain conditions, including but not limited to
at least $1,999,965 in gross proceeds from the LIFE offering
is achieved and the receipt of all necessary regulatory and other information
approvals, including the fulfillment of all filing requirements of the
company in accordance with the guidelines of the CSE.
As set out in the amended offer document, the company can
Pay a brokerage commission as part of the LIFE emission, insofar as this is according to the
guidelines of the CSE and applicable securities laws.
None of the securities sold in connection with the LIFE offering will be
the United States Securities Act of 1933, as amended
registered and none of these securities may be traded in the United States
offered or sold where no registration or applicable
Exemption from registration requirements. This press release
constitutes neither an offer to sell nor an invitation to submit one
offer to purchase, nor may the Securities be sold in a country in which
any such offer, solicitation or sale
would be illegal.
For more information, please contact:
Ofer Vicus, CEO
[email protected] (mailto:[email protected])
Abe Dyck, Investor Relations
[email protected] (mailto:[email protected])
+1 604-362-7011
Investor Cubed Inc.
Neil Simon, CEO
[email protected] (mailto:[email protected])
+ 1 647 258 3310
Forward-Looking Statements
This press release contains forward-looking statements. All statements that
do not represent historical facts and refer to activities, events
or developments that the company believes, expects or
anticipates that they will or may occur in the future
forward-looking statements. Regarding the forward-looking statements in this
Press release includes statements regarding: the timely completion of the offering
by the company, the intended use of the proceeds from the offering,
the closing conditions of the offer and the anticipated closing date
the offer. The forward-looking statements reflect the current ones
Management’s expectations based on those currently available
information and is subject to a number of risks and uncertainties,
which can cause the results to differ materially from those in the
forward-looking statements, including the following:
the Company may not complete the Offering as proposed;
the proceeds of the offering may not be as detailed in this press release
specified uses; the company may not be able to provide all
meet conditions for completion; adverse market conditions and
other factors beyond the control of the parties. Although that
Company believes that the forward-looking statements are based
underlying assumptions are reasonable, forward-looking statements are not
Guarantees for future performance, and one should look accordingly
due to the uncertainty contained therein, do not rely too heavily on such statements
leave. Among the factors that could cause the actual
results or events materially from current expectations
vary, include general market conditions and other factors
are outside of the Company’s control. The company has neither
express intent nor obligation to make any forward-looking statements
new information, future events or for any other reason
update or revise, except to the extent required by applicable law
is mandatory.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has the
Content of this press release neither approved nor disapproved.
You can find a photo accompanying this notification
at https://www.globenewswire.com/NewsRoom/AttachmentNg/2c38da7f-ebce-46ea-
bb53-beeec6be4053/de
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